ahmedabad ca placements disappointed

Sushant Lohani (CHARTERED ACCOUNTANT) (1051 Points)

24 March 2010  

It seems after disappointment of losing of owning a ipl team; it is for fresh CA from ahmedabad to bear the brunt of bad luck. The first round of icai placement delivered 11 lucky ca freshers packages over 70 lacs; out of which 7 accepted; and when placements came to ahmedabad; the highest package is only paltry 7.5 lacs. Mind you, majority of rankholders are from gujarat. So this is suprising.

Ahmedabad Mirror reports:

CAs feel packages should get bigger


A top information technology company, renowned chartered accountancy firms and several banks were among the companies that descended upon the Ahmedabad chapter of the Institute of  Chartered Accountants of India (ICAI) on day one of placements. Though the top package of Rs 7.25 lakh offered on day one by Infosys was welcomed, candidates found some other offers disappointing.

They, however, hoped that things would only get better from here. Of the 161 successful students, 131 were shortlisted for interviews by Infosys, State Bank of India, Central Bank of India, Arvind Mills, SR Batliboi and Associates (E&Y Group), the firms which came scouting for potential credit analysts, assistant managers and financial analysts.  

The 100 candidates, who consented to be interviewed, went through 154 sessions as several from them were interviewed by more than one company.

Infosys picked up eight candidates, offering them packages ranging from Rs 7 lakh to Rs 7.25 lakh.

All eight postings are outside Gujarat. While most companies held two rounds of interviews, E&Y Group had four tough rounds.

A candidate who was offered the post of assistant manager told Mirror: “Interviews were tough and incisive questions relating to articleship and field work were asked. The offer is a dream come true. It took me just a second to decide on it. Most companies stressed on knowledge of international accounting standards.” 

Another student said, “I had decided not to compromise on the field in which I wanted to be placed. Taxation was my aim, and since I was clear about what I wanted, I turned down a tempting offer from a major company.”

While a candidate was happy picked up by SBI as a credit analyst (Rs 6 lakh), disappointment over not-so-big offers was evident on faces of many others. As many as 24 candidates who were successful in the interviews felt that packages were too small.

  “Chartered accountancy is one of the most toughest and rigorous courses. Pay packages of Pay packages of Rs 4 lakh offered by some organisations were less than expected. The only silver lining was that the firms were of repute,” a candidate said.

Niren Nagri, chairman of ICAI, Ahmedabad Chapter said, “Recession affected campus placements last year. With the economy looking up and phenomenal growth in GDP, financial results of companies are looking much better. We have experienced overwhelming response from nine companies.”

On the disappointment among students he said, “ICAI was wishing for a win-win situation for the company and the candidate. We has insisted on good pay scales as most candidates have a brilliant academic profile. Otherwise, these offers will be mere launchpads for the candidates.”